Rajasthan e-auctions 2 limestone blocks; to get Rs 10,500 cr

Don't want to miss the best from Business Standard?

The Rajasthan government today e-auctioned two limestone blocks which would contribute around Rs 10,500 crore to its exchequer with the Nagaur mine getting the highest bid for any such mine in the country.
Nagaur block was bagged by Emami Cements at a price which was 13 times higher than the reserve price and also was the highest bid amount for any limestone block in the country, a government official said.
Chittorgarh block received a winning bid from Dalmia Bharat Cements. The Chhittorgarh block is also one of the largest limestone blocks in the country with 175 MT resources.
Six cement companies were in the fray for bidding for Chhittorgarh block, Mines Secretary Aparna Arora said.

Nagaur block has received the highest ever bid for a limestone block in India thus breaking the previous record by a significant margin held by the adjoining block, she said.
The Boston Consulting Group has been working closely with the department throughout this process.
This is a major success for the state government as it will result in approximately Rs 10,500 crore revenue and will create hundreds of jobs, said Arora adding that the mines department is committed to making the state the top mining destination in the country.